What is Render (RENDER)?

Render is a decentralized, peer-to-peer network of connected graphics processing units (GPUs) that facilitates the renting and selling of computing power, specifically for digital rendering purposes.

Render leverages idle GPU compute power worldwide, offering scalable, efficient, and cost-effective rendering solutions for digital artists and developers. More specifically, Render is used for virtual productions that require a large amount of computing power, like virtual reality applications, 3D environments for 3D content creation, and motion graphics.

Originally created as a Layer 2 solution on Ethereum, Render migrated to Solana in late 2023 after a community vote in an effort to support faster transactions and cheaper fees. 

Users had the choice between staying on Ethereum (and holding the ERC-20 token, RNDR) or upgrading to Solana (and migrating their tokens to the SPL version, RENDER). 

Render’s native utility token, RENDER, is classified as a service token. These projects focus on offering tools for managing and sharing data using blockchain technology. RENDER tokens are specifically used to compensate GPU owners for rendering services and facilitate transactions within the network.

Kraken allows users to buy and trade RENDER (Solana version) as well as 250+ other types of cryptocurrencies. 

Render leverages unused GPU power, offering scalable, efficient, and cost-effective rendering solutions for digital artists and developers. Render achieves this thanks to:

• Decentralized GPU Sharing: Connects GPU owners with those needing rendering power, using blockchain for secure and transparent transactions.

• Token-based Economy: Uses RENDER tokens to facilitate transactions, rewarding GPU providers and allowing users to pay for rendering services.

• Quality Assurance: Implements mechanisms to ensure rendered outputs meet quality standards before releasing funds to GPU providers.

• Scalability: Capable of scaling up to meet high demand, ensuring high-need rendering jobs can be distributed efficiently across the network.

• Security: Incorporates cryptographic techniques to protect the privacy and intellectual property of all network participants.

The Render network acts as a matchmaking service between creators and those looking to rent their unused GPU power.

Creators submit their rendering requests and commit RENDER tokens according to the demands that their jobs will require. They can also choose their preferred pricing tier depending on several options that balance speed, reliability, and cost. 

Jobs are then allocated to node operators based on both the creator's and operator's reputation for successful project completion. Upon completion, creators review the work and pay the nodes. However, if they are dissatisfied, they can initiate a dispute resolution process. 

Of note, while payments and transactions are recorded on the blockchain, the actual rendering tasks and their completion are executed off-chain.

Burn-and-Mint Equilibrium (BME)

In January 2023, the Render community voted to implement a burn-and-mint equilibrium mechanism (BME).

Render operates on a fiat-based pricing model. Creators purchase RENDER tokens from liquidity pools or use their existing holdings to pay for rendering jobs. 95% of these tokens are burned, effectively reducing the circulating supply, while the remaining 5% go to the Render Network Foundation for development purposes. 

Node operators are compensated with newly minted tokens, maintaining a balance between supply and demand. This burn-and-mint mechanism allows for precise control over its circulating supply and can influence its inflationary or deflationary trends.

The Render Network addresses significant inefficiencies in the digital content creation sector, particularly the high costs for content creators and the computational demands of 3D rendering. 

Traditional rendering, especially for complex projects such as CGI for films, animations, and detailed 3D models, requires substantial computational resources, often leading to prohibitive costs and long wait times for artists and developers. 

This bottleneck can limit productivity, especially for independent creators who may lack access to sufficient computing resources

By decentralizing the rendering process, Render enables individuals and companies to access a distributed network of GPU power, facilitating faster and more cost-effective rendering. This democratizes access to high-quality rendering resources, allowing creators to execute their visions without the traditional barriers. 

Additionally, this peer-to-peer system can provide an income stream for GPU owners, who are able to earn RENDER tokens by contributing their idle computing power to the network.

Someone may wish to purchase SOL for the following reasons:

• Participate in protocol governance: RENDER is used to empower the community to actively participate in the decision-making process of its protocols, ensuring a more democratic and inclusive approach to project management. 

• Stake RENDER: staking allows RENDER owners to earn potential rewards by actively participating in the validation of transactions. 

• Pay for transaction fees: These fees compensate validators for their work in processing and verifying transactions.

• Transfer value: RENDER can be sent to other users as a form of payment or to transfer value across blockchain networks.

Justin Urbach launched Render in June 2020.

Jules Urbach is a pioneer in computer graphics, streaming, and 3D rendering technologies, with a career spanning over two decades. 

As the CEO of OTOY, Urbach's vision for Render was to democratize high-quality rendering by utilizing the power of distributed GPU computing, making it accessible to artists, filmmakers and developers worldwide.

RENDER was originally created as an ERC-20 token on Ethereum with a theoretical maximum supply of approximately 536 million RENDER tokens. 

Of the original RENDER created, 25% were sold in private and public sales to investors in 2017. 

At press time, there has been no report published regarding how many RENDER are held by the team and developers.

Introducing the BME in January 2023 marked the intention for RENDER to become deflationary depending on how much the network was being used.

In 2024, the Render community voted to transition the network to Solana and issue a new native token, RENDER. 

While the Render Foundation shifted its focus and support to the new RENDER token, the legacy RENDER token is still live on Ethereum.

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